22 new joint secretaries appointed; 4 in ministry of home affairs
- Former private secretaries to the President and the then home minister L K Advani, Pradeep Gupta and U K S Chauhan, respectively, are among four new joint secretaries appointed in home ministry as part of mid-level bureaucratic reshuffle effected by the government on Monday.
- Besides them, T V S N Prasad and IPS officer Satyendra Garg are other newly-appointed joint secretaries in the home ministry. A total of 22 new joint secretaries have been appointed by the govern
ment in different ministries.
- Gupta is a 1985 batch officer of Indian Ordnance Factory Service (IOFS). This is probably first time when an officer from IOFS has been appointed in the home ministry.
Lionel Messi appointed Tata Motors’ global brand ambassador
- Tata Motors has roped in Football star Lionel Messi as the global brand ambassador for
its passenger vehicles. To start with, Tata Motors will roll out the association campaign, #madeofgreat, starring Lionel Messi tomorrow.
- This is the first time ever that the Passenger Vehicle Business will be undertaking an overall brand association campaign with a brand ambassador, said the company.
- The company has also announced to soon roll out an exclusive, limited edition merchandising range of this association.
- Mayank Pareek, President, Passenger Vehicle Business Unit, said, “We are very excited to have Lionel Messi on board.
- He is talent galore with conviction & is an icon for today’s youth. Watching him play football is magical. His determination on the field is awe-inspiring.
- He is a winner who is trustworthy, reliable, pioneering, simple and driven by self-belief, which is the core idea of this campaign – ‘What drives us from within is what makes us great.,”
Federal Bank appoints Shalini Warrier as COO
- Privately-held Federal BankBSE 0.55 % has appointed Shalini Warrier as Chief Operating Officer
with effect from November 2, this year.
- Warrier is a member of the Institute of Chartered Accountants of India being the first rank holder in 1989. She is also a Certified Associate of Indian Institute of Bankers.
- Having worked with Standard Chartered Bank for more than 25 years, Warrier was the CEO and Head of Consumer Banking of SCB in Brunei, the company said in a release.
With recent cuts in bank FD rates, investors rush to the post office deposits
- The recent cuts in bank FD rates are driving investors to post office instruments. Af
ter the rate cuts in early October, a five-year fixed deposit with the country’s leading banks fetches 7-7.75%.
- In comparison, a time deposit with the post office for the same duration fetches 8.5%. With 10-year National Savings Certificates (NSC) you get 8.8%.
- Financial advisors said expectations of lower returns from post office deposits after the Union Budget in 2016 are prompting investors to lock in a portion of their money in this instrument.
- Soon after Reserve Bank of India’s 50 basis points repo rate cut in September, the government said it would review the small savings rates in order to facilitate transmission of monetary policy easing.
RBI promotes Deepak Singhal as its new executive director
- Reserve Bank of India (RBI) on Monday said it had promoted Deepak Singhal as the new executive director of the central bank effective immediately.
- He will look after six departments at the central bank including the central security cell, corporate strategy and budget department and human resources management department among others.
- K. K. Vohra, who was earlier looking after these departments will now look after the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Raghuram Rajan, RBI Chief, Speaks Out on Intolerance
- The head of India’s central bank made an unusual appeal for tolerance in a speech Saturday, triggering a debate about whether he was trying to send a message to the country’s leaders.
- Reserve Bank of India Governor Raghuram Rajan said Saturday that India’s tolerance and tradition of debate and openness help form the foundation for its current and future success.
- Speaking to the students of his alma mater—the prestigious Indian Institute of Technology, New Delhi—he said tolerance means not being so insecure about one’s ideas that one cannot subject them to challenge.